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2 BI 2 REPORTS LOSS AND SMALL SALES DECLINE; NEWLY PUBLIC COMPANY ON TARGET WITH PROJECTIONS

 ST. LOUIS, Feb. 19 /PRNewswire/ -- 2 Bi 2, Inc. (NASDAQ: BIKEU) reported a loss on a slight decline in sales for its fiscal first quarter though Kenneth Beckham, president, said the newly-public company is on target in terms of its objectives.
 Our corporate strategic business plan is being adhered to and our expectations for producing and marketing our two-wheel drive bicycle throughout the U.S. and overseas are being met,'' Beckham said.
 He noted that 2 Bi 2 had successfully completed certain pre-planned engineering advances on its two-wheel drive system and was operating under projected expenses.
 Beckham said that as a result of the company's initial public offering of common stock last September, 2 Bi 2 had ample capital and was well positioned to pursue its marketing and distribution plans.
 Beckham said that 2 Bi 2 had received favorable response from distributors in Europe and from customers at the Super Show in Atlanta and the Toy Fair in New York, where 2 Bi 2 showed its MacGregor two- wheel drive bicycle line.
 Austrian Order
 He said the company's Austrian distributor had given 2 Bi 2 specifications for a first order of some 1,200 bicycles and that samples had also been air-shipped to numerous overseas destinations including distributors in Stockholm, Barcelona, Belfast and Paris.
 2 Bi 2 had previously announced that it had signed 11 separate distribution contracts with 6 distributors in Europe that represented purchase requirements for some 72,000 bicycles to be delivered during 1993. Beckham said that the company expected these distributors to begin placing sizable orders during the next three to six months.
 Beckham said that reception for the company's MacGregor two-wheel drive bicycle at the Atlanta Super Show, Feb. 5-8 and the New York Toy Fair, Feb.
8-17 was beyond our expectations. In addition to favorable comments by customers, we had coverage from five TV crews of the stunt driver demonstrating our bike.''
 Beckham said that the company's two wheel drive bicycles are scheduled to be exhibited at the regional Toy Fair to be held in Dallas, March 14-17, the West Coast Toy Fair in Pomona, Calif., in late March; and the Portland Bicycle Show, March 13-14.
 For its fiscal first quarter ended Dec. 31, 1992, 2 Bi 2 reported a net loss of $548,000 or 18 cents per share on sales of $130,000 compared with a net loss of $226,000 or 10 cents per share on sales of $136,000 in the year ago period.
 Beckham said that the slight decline in sales occurred partially due to management's election to complete certain "significant engineering advances to the two-wheel drive component system before making shipments.'' He said the technological improvements were tested and completed in early January 1993, and deliveries are now going forward on a normal schedule.
 He said the larger deficit was due to a planned increase in marketing and administrative expenses associated with the company's growth and expansion including the hiring of experienced bicycle industry personnel, acquisition of equipment, and the leasing and start- up costs for the company's recently opened Legacy Bicycle Corp. headquarters in Denver.
 2 Bi 2, Inc. is the developer and manufacturer of the world's first two-wheel drive bicycles which it markets under three brand names: Legacy, BWA and MacGregor. 2 Bi 2, Inc. is headquartered in St. Louis. The company's securities are traded over-the-counter under the NASDAQ symbol BIKEU, and listed under NASDAQ small cap issues.
 2 BI 2, INC.
 Condensed Consolidated Statement of Operations
 Periods ended Dec. 31 Three Months Ended
 1992 1991
 Sales $ 130,154 $ 135,647
 Net loss $(547,674) $(225,892)
 Net Loss per common share $ (0.18) $ (0.10)
 Average common shares outstanding 1,493,000 1,493,000
 -0- 2/19/92
 /CONTACT: Nicholas G. Biro or Jim Tolan, 708-498-2284, or fax, 708-498-3144, both of O'Connor Biro & Associates, for 2 Bi 2/
 (BIKEU)


CO: 2 Bi 2, Inc. ST: Missouri IN: HOU SU: ERN

TM -- NY065 -- 8545 02/19/93 16:53 EST
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Publication:PR Newswire
Date:Feb 19, 1993
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